How Many Chart Indicators Do You Need for SUCCESS?
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- Опубліковано 17 чер 2024
- Are you overwhelmed by the number of chart indicators needed for technical analysis? In this video, we'll discuss the ideal number of indicators you need for successful trades and how to use them in your trading strategy. From crossovers to breakouts to pullbacks, we'll cover it all in simple terms to help you improve your trading game. Watch now to find out how many indicators you really need for success!
00:00 Introduction
01:08 How many indicators should you use on your charts?
03:12 Chart Indicators based on trading strategies
06:33 Outro
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FoxTail is a passionate music producer and videographer in Dallas, TX expanding knowledge in the stock market. I strive to provide the easiest methods of trading and change your life.
Thanks for sharing😊
Thank you for watching! 📈📈📈
Price rules everything around me. Use naked charts to get the money..dollar dollar bills y'all
Thank you for this information Queen! 🙏🏽💯😊
- MissMack
Thank you @innerwinnerproductions834 Keep shining! 😊💪
Powerful information AGAIN! Love your informative videos. Thank you! 🙏🧞♀️🙏
Thanks for your kind words, it means a lot! 😊 🙏
Your production quality is excellent..
Thank you
Love your hair style. ❤ you went above explaining the data. Good for expert traders and beginners . Your knowledge is superior . 🦊❤️🌹
Haha! Thank you a ton, I was trying a different look from the classic twists! 🙏🙂 I look forward to making more fun and education content 📈📈📈📈
All I use:
AVWAP (more specifically previous day for S&R),
3ema (5,13,48)
RSI, & MACD when I’m in.
That sounds like a solid setup you've got there! It's awesome that you've found a combo of tools that work well for you.
I work on the 5 minute time frame it’s easy to follow if I don’t see any setups I like I just come back 5 minutes later
As far as indicators I use the VWAP 9,25,50,100 ema for support and resistance (intraday)
I don’t buy into the whole I don’t use indicators aspect like at all but to each their own
If I don’t have any space to trade before the support is tested I don’t even bother
Sounds like you've got a solid plan in place! Keep it up, and best of luck with your trades! 📈📈📈
Great video! Question for you in normal swing trading I would do 10 positions 5 for high risk stocks 5 for less high risk stock. For options would I want to increase that to 7 positions for higher risk stocks 6 positions for less risk ones. Basically what I'm asking is do I want my capital in more positions when doing options? I would assume the answer is yes. I have medium to high risk tolerance.
I see where you're coming from with that question. With options, since they're generally riskier because they can lose value pretty quickly, I wouldn't necessarily say you should increase your positions. If anything, consider scaling back a bit.
You might want to focus on trading options on stocks that are prone to bigger price swings. This way you give yourself a shot at greater gains without needing to juggle too many options at once. So yeah, you're going for the whole 'less is more' approach to try and maximize that potential return.
@@BlackGirlStocks So like 6 to 7 positions at most. Because I was taught the less positions the more risk. Would you be comfortable giving me an example? Thanks
Remember, trading isn't a one-size-fits-all thing - what works for me might not work for you and vice versa.
Coming back to your question, it isn't as black and white as 'fewer positions = more risk'. It's all about managing and balancing risks in the context of your overall portfolio. Sorry, but I don't have a ready-made example to hand you. The key takeaway is: figure out what works best for you and your portfolio. Keep in mind your risk management strategy while doing this.@@wiseman4160
@@BlackGirlStocks OK thanks!! I'll do less is more approach and have 6 positions at most for trading options.
Strat, RSI, MACD, also I want to learn FLOW
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Does Webull have anchored VWAP? If so, where can I find it? Also does Webull have Buy/Sell Walls? Thanks.
So it looks like Webull doesn't have the Anchored VWAP (AVWAP) feature currently. They do have the regular VWAP and VWAP Bands though, which is neat for checking out how price movements stack up against the volume. But yeah, if you're set on using AVWAP for that extra layer of analysis, it's kinda a bummer since it won't give you the same drill-down.
On the flip side, if you're hunting for the Buy/Sell Walls vibe, Webull's got something like that with their Level 2 data. It's not exactly shown as walls, but more in a list format. You can catch a glimpse of what orders are lining up which can tell you a lot about possible support or resistance zones.
@@BlackGirlStocks Awesome response and clarifications as always! The walls are better for a visual learner. Yes I am still hunting for the best entry strategy for 2.mins entry. Thanks a lot for all you do!
Word
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Have heard about the master indicate.
I have not
🤔🤯 Rewind..
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Indicator strategies doesnt work
*dont
That's not a backtest. That is called paper trading a strategy. Google and UA-cam," trading backtesting" or any similar keywords. There are websites, software, programming languages ( python/etc), and platforms that offers backtesting. Do your homework..........
Hey Jay Bee,
I appreciate your two cents! You nailed it; backtesting is definitely about taking a strategy for a spin on past data to see how it might have done. That's what I was showcasing with Thinkorswim's on-demand feature in the video. So yes, I did use terms like 'backtest' and 'paper trade' pretty interchangeably there. They're both just handy tools in the trader's kit to help sharpen our game.
Thanks for the emphasis on precision - always good to have someone keeping me on my toes. Take care and happy trading! ❤️🤗
Period 😂